Small Business Administration
US Small Business Administration questions proposed train crew size rule
Among the thousands of comments received by the Federal Railroad Administration on a proposed rule that would require at least two crew members in a freight locomotive cab was one from the U.S. Small Business Administration saying FRA “significantly understated” costs and the number of potentially affected businesses.
SBA’s Office of Advocacy is asking FRA to revise and republish its initial regulatory flexibility analysis because SBA maintains that FRA grossly underestimated how much the...
PPP lending only to businesses of up to 20 workers for 2 weeks
If you’re a small business that has been thinking about getting money under the Paycheck Protection Program for either a first or second time, the clock is ticking to join a party that only you are invited to attend.
In a series of changes announced by the Biden administration Monday morning, the Small Business Administration said it would kick off a 14-day period this Wednesday during which it would accept applications for PPP funding only from companies that have 20 employees or fewer.
But...
https://s29755.pcdn.co/news/ppp-lending-only-to-businesses-of-up-to-20-workers-for-2-weeks
Commentary: With PPP loans ended, what comes next?
The views expressed here are solely those of the author and do not necessarily represent the views of FreightWaves or its affiliates.
Motor carriers form the most competitive mode of transportation.
This is because there are so many independent players, and the mode is relatively easy to enter and exit. A tractor and a commercial driver’s license (CDL) are enough to make someone an owner-operator.
In this way the owner-operator is a sole proprietor of a small business, either working...
https://s29755.pcdn.co/news/with-ppp-loans-ended-what-comes-next
The Daily Dash: Your look at today’s news
The Daily Dash is a quick look at what is happening today in the freight ecosystem. In today’s edition, YRC Worldwide details how it will spend the $700 million loan it received from the government, Navistar and Samsara make it official and a PPP loan wasn’t enough to save an Alabama carrier.
YRC’s lifelineEarlier this week, YRC Worldwide, the troubled less-than-truckload carrier, announced it would be receiving a $700 million loan from the U.S. Department of the Treasury in exchange for a 30%...
https://www.freightwaves.com/news/the-daily-dash-your-look-at-todays-news
US customs brokers, forwarders cautiously trickle back to offices
After several months of stay-at-home orders, America’s customs brokerage and freight forwarding firms are preparing to reopen their offices in the weeks and months ahead. However, these companies do not anticipate a return to pre-coronavirus conditions, industry experts say.
“Our return-to-office plan considers that the future of work, as we have known it for all companies around the world, is shifting,” Marcia Lyssy, chief human resources officer for BDP International, told American Shipper.
Phil...
https://s29755.pcdn.co/news/us-customs-brokers-forwarders-cautiously-trickle-back-to-offices
Trucking firm claims SBA discrimination in denying PPP loan
A small Maine-based trucking firm has sued the U.S. Small Business Administration (SBA) for denying it a Paycheck Protection Program (PPP) loan. The suit, filed earlier this month in Portland, Maine, alleges that M.G. Transport’s request for a PPP loan was denied because the trucking company is currently operating under Chapter 11 bankruptcy proceedings.
M.G. Transport, which employs four people, and a companion company, A.S. & B.C. Gould & Sons, which employs five, sought $32,000 and $55,000,...
https://s29755.pcdn.co/news/trucking-firm-claims-sba-discrimination-in-denying-ppp-loan
PPP loans under $2 million get a significant waiver from SBA
If your company received a loan of less than $2 million under the Paycheck Protection Program, the new message from the Small Business Administration is that you’re OK.
In an addition to its lengthy list of FAQs, the SBA said Wednesday that all loans granted under that dollar threshold will be viewed as having met the “good faith” standard necessary under the PPP.
The clarification comes after Treasury Secretary Steve Mnuchin said in April that the SBA would be reviewing PPP recipients who...
https://www.freightwaves.com/news/ppp-loans-under-2-million-get-a-significant-waiver-from-sba